NOVUM Hospitality records significant growth in revenue again in 2017

NOVUM Hospitality records significant growth in revenue again in 2017

Hamburg, Germany – 9 March 2018 – Novum Hospitality continued its course of growth and closed the 2017 financial year with a new record in revenue: based on preliminary reported figures, the pan-European family-owned company generated sales of 184 million Euros (2016: 134 million Euros) across the Group , which is an increase of over 38 percent compared to the previous year. Based on preliminary figures, GOP amounts to around €70.1 million across the Group, with EBITDA of around €18.9 million.

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The primary reason for this revenue growth has been the commissioning of a total of 30 hotels with 3,377 hotel rooms along with a general increase in performance by the core portfolio. A total of 102 hotels featuring 9,166 rooms were thus operative in the network and recognised in the income statement.

In 2018, the company is aiming to achieve a revenue target of more than 200 million Euros, which will be boosted by around eight of the latest new niu brand openings, the opening of a Crowne Plaza hotel in Frankfurt/Main, an ibis Styles Hotel in Vienna and the acquisition of further existing hotels.

“We owe the success of 2017 to the trust that our guests, each individual employee and our business partners have placed in us. We are very pleased about this and look to the future with even more élan. Using this as a sound foundation and with the support of an enthusiastic team, we will continue to do our best again in 2018”, states David Etmenan, Chief Executive Officer & Owner of NOVUM Hospitality.